Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ALTCOIN NEWS»Solana price soars above $100, securing 4th place, beating Ripple and BNB
ALTCOIN NEWS

Solana price soars above $100, securing 4th place, beating Ripple and BNB

By Crypto FlexsDecember 27, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Solana price soars above 0, securing 4th place, beating Ripple and BNB
Share
Facebook Twitter LinkedIn Pinterest Email

Solana’s recent price performance has been remarkable. It surpassed Ripple and Binance Coin to become the fourth-largest cryptocurrency by market capitalization. SOL price broke the critical level of $100 for the first time since April 2022 over the weekend, sparking optimism among investors. However, altcoins suffered a correction of about 7%, suggesting that the market was overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL outlook

The price of Solana has shown significant recovery over the past few weeks and has surpassed the psychological level of $100. The altcoin has been one of the best-performing assets this year, posting more gains in the past month alone, taking its year-to-date gain to over 1,025%. However, despite this growth, analysts say Solana’s chances of surpassing ATH of $260 are bleak.

This is because supply increases relative to value. When Solana’s price hit an all-time high of $260 in November 2021, Solana’s total market capitalization was approximately $78 billion. Despite the cryptocurrency asset being worth less than half of its peak value, its market capitalization is currently approaching $50 billion.

This follows an increase in Solana supply of over 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its overall market cap would need to be around $111 billion, which seems rather difficult with institutional investors pouring billions of dollars into the asset.

SOL’s recent surge has been fueled by significant on-chain activity. The ongoing hype about the blockchain’s fast transactions and low fees has fueled SOL’s on-chain activity. Cryptocurrency markets have also been on the rise over the past few weeks due to the weakening US dollar and the January 10, 2024 deadline for the first approval of a spot Bitcoin ETF.

Solana price outlook

Solana price has shown a strong upward trend over the past few weeks despite facing strong rejection at the important resistance level of $120. The digital asset remains above the 50-day and 200-day exponential moving averages and the 100-day and 200-day simple moving averages. The relative strength index (RSI) is 74, indicating that the asset is overbought due to its recent uptrend.

So the market will likely have to cool down before it can resume its rally. Moreover, the bullish momentum, characterized by the retreating green bars of the Moving Average Convergence Divergence (MACD) indicator, is currently waning.

Therefore, Solana price may experience a correction below $100 until the market cools down, after which it will gather strength to resume the rebound. On the other hand, if the bulls continue to charge the altcoin, Solana could reverse immediate resistance to $120, adding confidence to the current market position.

SOL price chart

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Despite market volatility

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025

How does it affect Bitcoin?

June 7, 2025
Add A Comment

Comments are closed.

Recent Posts

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

Despite market volatility

June 7, 2025

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025

Is Bitcoin Price Rally $ 150K by the end of the year?

June 7, 2025

How does it affect Bitcoin?

June 7, 2025

Gala Games introduces a step -by -step approach to founder node staking.

June 7, 2025

AB starts in binance

June 7, 2025

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

Despite market volatility

June 7, 2025

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025
Most Popular

Analysts predict Bitcoin price to rise above $200,000 after BTC’s bullish momentum returns

July 17, 2024

Polkadot-based Acala expands to multichain horizon with Sinai upgrade.

May 7, 2024

SOLANA’s final defense -can the $ 118 price level block large slides?

April 4, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.